Wisconsin-based U.S. Venture, which focuses on transportation and sustainable energy solutions, is using carbon offset futures to hedge forecasted emissions for clients, as well as securing offsets for its own needs. Carbon offsets are typically transferable instruments that are verified by independent entities, governments or other certifiable standards. Each credit often represents a reduction of one metric ton of CO2 or other greenhouse gases. The credits are provided by projects such as carbon sequestration initiatives that mitigate emissions. A company supporting a project would retire the carbon credit it purchased to claim a win in reducing their greenhouse gas output. Demand for carbon credits is expected to increase 15-fold by 2030, creating a market worth over $50bn, as more private enterprises look to offset their carbon emissions. U.S. Venture and companies like it often turn to offsets to speed up the carbon reduction process. Carbon futures also help to give companies the confidence to accept carbon offsets as having a clear price signal is important for their business. The GEO (Global Emissions Offset) futures contract was introduced by CME Group in 2021 and has since launched the N-GEO (CBL Nature-based GEO) futures and C-GEO (CBL Core GEO) futures. Combined, trading on the products has eliminated an equivalent of 300 million metric tons of carbon emissions. However, the carbon offset market is still young and rapidly evolving, therefore standard setters must maintain clear and reasonable standards and certifiable standards, such as offered by CME, must continue building confidence in the voluntary carbon offset market.
Source link
Speedy Freight has achieved a carbon-neutral status.
International same day courier service Speedy Freight has been recognized globally for its focus on environmental freight. The company has...
